Propelld, a student education financing platform, has secured $35m from a Series B funding round.
The round was led by WestBridge Capital and also saw participation from existing investors India Quotient and Stellaris Venture Partners.
Founded in 2017, Propelld enables flexible financing solutions through full digital journeys for learners pursuing education programs at vetted partner institutions.
The company provides tailored financing solutions for various educational programs and goes beyond traditional credit parameters to focus on students’ learning capabilities and employment potential to assess their eligibility for a loan.
According to Propelld, it intends to use the new influx of cash to strengthen its in-house technology capabilities and introduce new financing products. The firm also plans to grow its loan book rapidly in a segment that has low credit penetration and offer new products for verticals within education.
Furthermore, it intends to add another 100 to 150 employees to its already 150-strong workforce over the next year.
